Ord76 1683 - Laserfiche WebLink

Browse Search

.' ~ EXHIBIT A AMENDMENT 'ro CONTRACT BETWEEN THE BOARD OF ADMINISTRATION PUBLIC EMPLOYEES' RETIREMENT SYST""~ AND THE CITY COUNCIL OF THE CITY OF REDWOOD CITY The Board of Administration, Publi~ Employees' Retirement System, here- inafter referred to as Board and the CITY COUNCIL of the CITY OF REIJ.oJOOD CITY, hereinafter referred to as Public Agency having entered into a contract under date of July 11,1941, effective July 1,1941, as amended effective July 1, 1954, August 1, 1959, January 1, 1967, April 1, 1969. July 1, ~971, September 1,1971, September 28,1973, and December 1,1975, which provide for participation of Public Agency in said System, Board and Public Agency hereby agree as follows: A. The following subparagraph shall be added to Paragraph 6 of said contract: 6(e) Section 21222.1 (providing for increases in allowances to which the annual cost-of-living provisions apply, payable for time commencing on the first day of the calendar month coinciding with or next following the effective date of this amendment to or on account of persons retired or members. de- ceased on or prior to December 31,1970). (f) Section 21222.2 (providing for increases in allowances to which the annual cost-of-1iving provisions apply, payable for time commencing on the first day of the calendar month coinciding with or next following the effective date of this amendment to or on account of persons retired or members deceased on or after January 1,1971 but before July 1,1971, are hereby increased by 5%). B. Subparagraph (4) shall be added to Paragraph 7(a), and sub- paragraph (4) shall be added to Paragraph 7(b) of said contract: 7(a) (4) 0.559 percent for (3) years from the effective date of the amendment to provide the benefits under Sections 21222.1 and 21222.2 of the Government Code 7(b) (4) 1.205 percent for (3) years from the effective date of . this amendment to provide the benefits under Sections 21222.1 and 21222.2 of the Government Code. Ret. Form 702-1